After completing this chapter, you should be able to:
- Explain the difference between optimization problems that can be solved using linear programming methods and those that require nonlinear programming or calculus-based methods.
- Find the optimal values of the decision variable and the objective function in problems that involve one decision variable (unconstrained and constrained).
- Solve one-decision variable problems with a nonlinear objective function using Excel (unconstrained or constrained).
- Find the optimal values of the decision variables and the objective function in unconstrained problems that involve two decision variables.
- Solve one-decision-variable unconstrained problems with a nonlinear objective function using Excel.
- Use the Lagrange multiplier to find the optimal values of two decision variables and the objective function in problems that involve equality constraints.
- Solve two-decision-variable problems with a nonlinear objective function and an equality constraint using Excel.
- Find the optimal values of the decision variables and the objective function in problems that involve two decision variables and one inequality constraint.
- Solve two-decision-variable problems with a nonlinear objective function and multiple constraints using Excel.